Finance Insights: 2 No-Brainer Gold Mining Stocks for Investing as Precious Metal Hits New High

As finance experts suggest now is the time to invest in gold, spot gold prices are surging to new heights. Precious metal prices have reached a high of $2,587, with gold experiencing a nearly 20% increase over the last six months. With continued investing opportunities on the horizon, here's a look at two gold stocks that are hard to ignore.

Newmont Corp. (NYSE: NEM)

Newmont Corp. holds a strong presence in the gold mining industry. The company operates globally across North America, South America, Australia, and Africa.

• Record revenue growth: It reported a 64% YoY revenue increase in Q2 2024, totaling $4.4 billion.
• Net income surge: A staggering 450% YoY increase hitting $853 million.
• Future potential: Newmont plans to sell non-core assets, potentially generating $2 billion.

Additionally, Newmont attracts investing interest due to its $1 per share base dividend and a $1 billion share buyback plan. Analysts have a positive outlook, raising the FY2024 EPS estimate to $2.78 from $2.73.

Barrick Gold (NYSE: GOLD)

Barrick Gold also shows tremendous potential in the market. The company achieved a significant revenue increase of 11% YoY, reaching $3.16 billion in Q2 2024.

• Strong net income: Showed an annual growth of 21%, totaling $370 million.
• Dividend appeal: The stock yields 1.9% and supports a substantial share buyback plan.
• Global reach: The company's operations across multiple continents ensure consistent production.

As of now, Barrick trades at $20 with year-to-date gains over 16%.

Both Newmont and Barrick Gold exemplify excellent investing opportunities as gold prices continue to soar, offering a pathway for capturing gains in the evolving market.